What is Value-Based Selling and Why is it Important to Your Sales Process?
Value-based selling is the practice of communicating the business and financial benefits a customer can expect from buying a product or service, before discussing price. Often referred to as value selling, it is an effective B2B sales approach that lets you move beyond product features and costs to focus instead on the quantifiable advantages your solution can deliver.
Sales professionals prefer value-based selling because it builds trust with prospects and leads to long-term customer relationships, broader sales engagements, and better outcomes.
What’s Unique About TFP’s Value-Based Selling Training?
Our trainers have been providing value selling support and training to technology firms since 2000. We’ve found that there’s more to selling value than identifying pain points and crafting value statements. To be effective, you must quantify the economic impact of your solutions. In this training, we’ll teach you how to research your prospects, develop insights and spot trigger events (aka compelling events), and then tie the financial value of your solutions to their most important business objectives.
We begin the training with a brief overview of value driver categories—revenue growth, expense savings, labor productivity, and reduced risk. Then we make those concepts tangible with a condensed version of our Value Inventory Workshop, where we focus on your buyer personas, why they buy, and how you compare competitively in delivering their desired outcomes. Then we match a value driver to each reason and determine how a prospect can monetize it. This leads to a highly customized and relevant training.
We then teach participants to use this new knowledge to create quantitative discovery questions. These questions will help them unearth the cost or benchmark of status quo and how your solutions can deliver value given that current state. Then we use this information to show you how to shorten your sales cycle by quantifying the cost of decision delay.
In a popular add-on module, “Developing a Business Value Hypothesis,” we examine your solution’s top value drivers and how to estimate the potential value of your solution using a prospect’s financial statements and industry benchmarks. The goal is to empower your team to create executive conversations using value-based insights.
These skills will allow your team to communicate in the language of the C-suite. They will open doors to other decision makers within the organization and help you develop a more effective and efficient buying process.
What Results Can You Expect from Value Selling Training?
TFP’s value-based selling training focuses on building relationships with potential customers by working together to quantify the value of your solution(s) in their environment. B2B buyers don’t want you to tell them they’re getting a great deal. They want you to show them how your solution will help them achieve their business objectives.
When possible, we recommend combining this course with our Financial Acumen Training to improve your team’s ability to analyze a prospect’s financial health and spot trends that can impact and accelerate purchasing decisions.
Course objectives and target exit skills include:
- A deeper understanding of how value is obtained and of your solution’s key value drivers
- The ability to use your value drivers to develop quantitative discovery questions
- The ability to calculate the cost of status quo and decision delay
- Competency in translating technical benefits into customer business value
- Increased confidence in engaging the economic buyer and speaking in the language of the C-suite.
- Familiarity with using benchmark data to estimate the value your solution can deliver
Ready to schedule a value-based selling training for your sales team? Contact us today.
“TFP provided a wonderfully focused training session for the account managers that aligned perfectly to our sales and account planning methodology. Their training was the perfect next step in how to research our accounts, find trigger events and build strong business cases that will resonate with C-Level executives. Further, it was an easily consumable format on what can be a very complex topic. Great class!”
Scott Sookarow. Director of Enterprise Sales, Veritas Technologies